Best of Artemis, week ending October 9th 2022

Here are the ten most popular news articles, week ending October 9th 2022, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates or get our email alerts for every article we publish.

Ten most read articles on Artemis.bm, week ending October 9th 2022:

1. What happens now Florida’s insurance capital stack is decimated?
   The Florida insurance market capital stack is likely decimated after hurricane Ian’s landfall last week, raising the question of how this marketplace replenishes it and also highlighting the need for access to efficient sources of capital.
2. Swiss Re cat bond index plummets on Hurricane Ian. US Wind down 32%
   The catastrophe bond market index calculated by Swiss Re Capital Markets, the insurance-linked securities (ILS) specialist arm of the global reinsurance firm, plummeted when priced on Friday, due to the potential impacts and losses cat bonds face after Hurricane Ian.
3. ILS NYC 2023 – conference tickets now on sale!
   Super Early Bird tickets are now on sale for our next insurance-linked securities (ILS) conference, Artemis ILS NYC 2023. Please register soon to secure attendance at the best possible price.
4. Hurricane Ian to “change Florida insurance market landscape” – RMS’ Rahnama
   Hurricane Ian is expected to change the insurance market landscape entirely in Florida and litigation is still expected to be an issue in the claims process despite the attempts at legislative reform, RMS’ Chief Risk Modeling Officer Mohsen Rahnama has implied.
5. KBW estimates ~9% hurricane Ian hit for RenRe, as % of common equity
   Analysts at KBW have tried to put some figures on the potential hurricane Ian loss impact for some of the main insurance and reinsurance names they cover, with RenaissanceRe currently seen by the firm as the company likely to take the biggest hit, as a percentage of its common equity.
6. What if Florida Citizens’ hurricane Ian average claims cost is close to Irma?
   While Florida’s insurer of last resort, Citizens Property Insurance Corporation, has provided a range of projected estimated losses from hurricane Ian of between $2.3 billion and $2.6 billion, if the average claims cost comes in around the levels of 2017’s hurricane Irma, the data could suggest a loss far higher.
7. Hurricane Ian could be “overwhelming ” for Florida property insurers: ALIRT
   Florida’s homeowners insurance marketplace was in a precarious state even before hurricane Ian’s devastating impact, but now the fallout and losses that are coming could be “overwhelming” for some carriers, ALIRT’s David Paul told Artemis.
8. Video from Artemis London 2022. Session 1: A celebration of cat bonds
   Our Artemis London 2022 conference a month ago was themed as a celebration of the catastrophe bond and our opening session of the day featured a fantastic keynote speech about the cat bond market and a lightning run through 25 landmark cat bonds from the first 25 years of the sector.
9. NFIP could exhaust reinsurance & cat bonds, if RMS estimate for Ian loss is close
   If the modelled loss estimate for hurricane Ian’s impacts to NFIP policies announced by RMS proves accurate, FEMA’s National Flood Insurance Program’s (NFIP) reinsurance tower and FloodSmart Re catastrophe bonds could pay-out in full.
10. Arbol hires ILS exec Brad Livingston as Head of Risk Capital Solutions
    Arbol, a technology-led underwriter of parametric risk transfer, climate and weather insurance or reinsurance business, has made another key hire, bringing onboard Brad Livingston, an executive with significant insurance-linked securities (ILS) market experience, as its new Head of Risk Capital Solutions.

This is not every article published on Artemis during the last week, just the most popular among our readers over the last seven days. There were 38 new articles published in the last week. To ensure you always stay up to date with Artemis and never miss a story subscribe to our weekly email newsletter which is delivered every Wednesday.

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